Yesterday's bearish, and sell rally, forecast had some success. Early trading attempted to resurrect last week's upside but levels above the 13 day mvg avg again, for a 3rd day in a row, found fresh selling. So although net movement was minimal, the capping of demand near that average line keeps immediate technical studies negative. So this morning’s call is a Sell but leaving room to also Sell at 1.2440, intraday Marabuzo line. The risk is 1.2480 with downside objectives at 1.2396, 1.2362, last week's bottom, or even 1.2334.
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Our 1.2396 target has been exceeded. Now looking at 1.2362, stop at 1.2418 and sell at 1.2440 cancelled
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2nd objective at 1.2362 reached. Stop lowered to 1.2390